Ukpeaġvik Iñupiat Corporation, or UIC, is one of about 200 Alaska Native village corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. Ukpeaġvik Iñupiat Corporation was incorporated in Alaska on April 19, 1973. Located in Utqiaġvik, Alaska, Ukpeaġvik Iñupiat Corporation is a for-profit corporation whose Alaska Native shareholders are primarily of Iñupiat Eskimo descent. The name of the corporation derives from one of the Iñupiaq names for Utqiaġvik, ukpiaġvik, which means "place to hunt snowy owls."